BCL dodges bullet in SA

Friday, March 08, 2019

Dixon-Warren is still fighting the Norlisk deal

"Nkomati Nickel, the South African mine which BCL Mine was only recently released from an obligation to take up 50% equity in, suffered a P900 million impairment for the six months ended December 2018. Until Christmas Day last year, Russian giant, Norilsk Nickel was still pursuing the enforcement of a 2014 deal under which BCL had agreed to purchase Norilsk’s 50% stake in Nkomati, among others."

At Christmas, Norilsk suddenly dropped its demands, saying it was terminating the contract and would rather focus on pursuing damages under arbitration. The Court of Appeal recently cleared the way for arbitration to begin in London.

This week, African Rainbow Minerals, which owns the other 50% in Nkomati, said the Mpumalanga mine’s struggles had continued in the six months to December 2018.

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BCL dodges bullet in SA

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Serowe man 'loses' P1m in trading

Inspect the voters' roll!